Nucor Predicts Narrower-than-expected 2Q Loss

CHARLOTTE, N.C. (AP) — Nucor Corp., the largest U.S. steel maker by production, on Tuesday issued guidance for a narrower-than-expected loss for the second quarter, saying orders had improved in recent weeks.

Nucor and other steel companies have been battered by the recession, which has hurt large steel buyers in the automotive, construction and industrial equipment markets. Prices and production of the metal have tumbled precipitously in recent months.

The company said it anticipates a loss of 55 cents to 65 cents per share for the three months ending July 4. That would compare with a profit of $1.94 per share during the second quarter of 2008. ...